United Insurance reports a 15 percent upsurge in profit, despite an increase in its paid claims during the last fiscal year.
The two-decades old Insurance Firm netted 145.1 million Br in the reporting period, while its premium grew by over 20 percent.
Non-life Insurance products dominated its portfolio. The share of general insurance from the total gross written premium stood at 90 percent, while life insurance contributed the rest.
In its latest general assembly, the shareholder of United voted against the proposal made by the bank's board of directors to increase its paid-up capital to one billion Br from 473 million Br.